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Journalising purchase and sale transactions - perpetual system [ 1 5 - 2 0 min ] The following transactions occurred between Belvidere Pharmaceuticals and D
Journalising purchase and sale transactions perpetual system min The following transactions occurred between Belvidere Pharmaceuticals and D & a pharmacy chain, during July of the current year all amounts exclude GST:
D &S purchased $ of goods from Belvidere on credit terms of n FOB delivery point. Separately, D & S paid a $ bill for freight in These goods cost Belvidere $ D &S returned $ of the goods purchased on July. Belvidere accounted for the sales return and placed the goods back in inventory Belvideres cost $ D & S paid $ of the invoice amiount owed to Belvidere for the July purchase, less the discount D & S paid the remaining amount owed to Belvidere for the July purchase
Jul
Requirements Journalise these transactions on the books of D & S without accounting for GST T Journalise these transactions on the books of Belvidere Pharmaceuticals, accounting for gst
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